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1、TMitTI 1Technological changeMarket changeStandardizationProductizationMarketingR&DTechnologyAssessmentand ForecastingMarketAssessmentand ForecastingInnovation process Sakari LuukkainenTMitTI 2Michael E. McGrath:Product Strategy for High Technolgy Companies Amazon et al 35 Sakari LuukkainenTMitTI 3Co
2、ntentVision and StrategyProduct Platform StrategyProduct Line StrategyLeveraged ExpansionSustained DifferentiationProduct PricingFirst-to-Market vs. Fast-Follower StrategyGlobal Product StrategyCannibalizationGrowth Through AcquisitionProcess of Product Strategy Sakari LuukkainenTMitTI 4Strategic Vi
3、sion Everything in a company should be done for purpose, which is to make money, to make money company needs products and/or services, to know what they are there should be a direction which is defined in a strategic vision Good strategic vision has focus, clarity, completeness, feasability Where do
4、es company want to go, how will it get there, why will it be successful? Sakari LuukkainenTMitTI 5How Vision Guides Strategy Directing technology strategy Defining core competence Focusing the efforts of identifying new product opportunities Setting expectations for customers, employees and investor
5、s Establishing a framework for product platform strategy Sakari LuukkainenTMitTI 6Product Platform StrategyPlatform is an architecture of the common elements implemented across a range of productsKey elements in the platform represent defining technologyDictates life cycle, capabilities, limitations
6、Based on core competenceDifficult to copy by competitorsThe choice if defining technology is perhaps the most critical strategic decision that a high tech company makes Sakari LuukkainenTMitTI 7Product PlatformsProduct 1Product 2Product 3Product 1AProduct 1BProduct 1CElement AElement BElement CSegme
7、nt ASegment BSegment CCommon platformDefining and supporting technology elementsUnique segmenting elements, common channel elementsProduct 5 Sakari LuukkainenTMitTI 8Benefits of Platform StrategyFocuses management on key decisions at the right timeEnables rapid & consistent product developmentEncour
8、ages a long-term view on product strategyDominant design position achievement Resource and channel synergies parallel cost and differentiation advantageCan leverage operational efficienciesR&D costs reuse Manufacturing costs economies of scaleMakes marketing and support easier segmentation and chann
9、el reuse more value by decreasing unit cost Sakari LuukkainenTMitTI 9Product Line StrategyA time-phased plan for developing products from a common platform, each product targeting a specific market segmentThe true potential of a platform strategy is extracted with an effective product line strategyC
10、overs all primary targeted market segmentsEach product offering should be sufficiently focusedTime-phased scheduling / sequencingall products cannot be released simultaneouslypriorizationSimilar products / product lines are coordinatedTo avoid rework and confusion in marketing and among customers Sa
11、kari LuukkainenTMitTI 10 Based on what customers are trying to do with product or who is customer Based on differentiation High-end version first and then low-end by subtracting value from it New features first to high-end, then diffuse to low-end as competitive upgrades Three versions is a good def
12、ault choice, most revenue from the middle version Creation of metrics for continuous evaluation of product profitabilitySegmenting Products Sakari LuukkainenTMitTI 11Leveraged ExpansionCase studies show that:The success of expansions to new product markets depends highly on ability to leverage:Exist
13、ing market knowledgeTechnical skills Sakari LuukkainenTMitTI 12Leveraged Expansion (contd.)Existing Platform ManagementNew SegmentsLeveraged Expansion StrategiesDiversification Sakari LuukkainenTMitTI 13Sustained DifferentiationICT products cost of production is dominated by the “first-copy R&D cost
14、s”, and cost of distribution is fallingThis cost structure leads to substantial economies of scale without capacity constraintsCompetitive forces tend to move the price toward marginal costA vector of differentiation enables sustained competitive product differentiation by continuous incremental inn
15、ovation along as specific path with distinct benefit or value propositionPositions, segments, evolves through life cycleDifferentiation as vector not point, product roadmap Sakari LuukkainenTMitTI 14Relative positioning Sakari LuukkainenTMitTI 15High-Tech Differentiation Unique featuresMeasurable be
16、nefitsEase of useImproved productivityProtecting the customers investmentLower cost of product failureHigher-performance productsUnique fundamental capabilitiesDesignStandardsTotal solutionsTotal cost of ownershipBrandConvenience Sakari LuukkainenTMitTI 16Risks of differentiationNot sustainedInsuffi
17、cient proximity to priceCustomer preferences misunderstoodHigh costUnfocusSubsegmenting the marketEmerging technologyPerception of differentiation Sakari LuukkainenTMitTI 17Product PricingOffensiveEstablish price leadership as the basis for competingPenetration pricing to increase the marketExperien
18、ce-curve pricing to discourage competitionCompete of price/performancePromotional discountingDefensiveAdapt to maintain highest competitive priceUse price to segment the marketSkim pricingValue-based pricingRedirect product line sales by bait-and-switch pricing Sakari LuukkainenTMitTI 18Product Pric
19、ingRisks of offensive pricingprice leadership not sustainableprice warno supporting cost advantageSources of cost advantagedesigneconomies of scalesupply chainsuperior techologyR&D processglobal scale Sakari LuukkainenTMitTI 19Advantages of Being First to MarketMarket share advantageEarlier experien
20、ceInfluence to standards Sakari LuukkainenTMitTI 20Advantages of Being the FastestNearer in time to the marketGet ahead and stay aheadCan user newer technology Sakari LuukkainenTMitTI 21First-to-Market Strategies Be the first to upgrade products with new technology Respond rapidly to market changes
21、Introduce continual product innovation Be the first to create a new marketFast-Follower StrategiesWait until a new market is clarifiedReverse-engineer successful competitive product Sakari LuukkainenTMitTI 22Entering the market prematurelyCompressing product lifecyclesRelying on an inferior product
22、development processRisks of Timing Strategies Sakari LuukkainenTMitTI 23Global Product StrategiesDevelop products uniquely for country marketsLeverage country-specific productCustomize global product platformDevelop universal global product Sakari LuukkainenTMitTI 24CannibalizationCauses of Unfavora
23、ble CannibalizationNew product creates less profitsNew product requires siginificant retoolingGreater technical risksOffensive StrategiesAttack market leaderIntroduce new technology firstDefensive StrategiesCannibalize yourself before competitorsContinue as technology leaderPricingSpecific market se
24、gments Sakari LuukkainenTMitTI 25Growth through AcquisitionAcquire product platform to expand into new marketAcquire technology and technical skills to develop new product platformAcquire market and channel expertise to enter new marketAcquire a competitor to strengthen a current market positionAcqu
25、ire a company with the capability to diversify into new market Sakari LuukkainenTMitTI 26Strategic Balance Trade-offsFocus vs. diversificationShort vs. long termCurrent vs. new platformOne business unit vs. anotherResearch vs. developmentHigh vs. low riskFinancial return Sakari LuukkainenTMitTI 27Process of Product Strategy Sakari Luukkainen
